I have plenty of capital to go any route, just trying to figure out the best path.

The Annual Owner Statement should break down all the expenses that the owner's tax professional then figures out how to deduct and on what tax schedule.So that way the owner can expense everything throughout the year?   

It had a mobile home park component, self storage, commercial and industrial tenants but it was interesting figuring out how all the numbers worked together.

Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I’m trying to figure the best way to structure the deal (equity, yearly dividends on cash flow, etc).

A way to look at it could be to find buyers first and figure out their buy box and after that go out and hunt for deals for them and run it by them when you find something.

I figured if I was going to owe Capital Gains, a HELOC would make sense since you don't have to pay Capital Gains on debt service.

@Krystal Lozano,Building a portfolio to a 6 figure is definitely a long game. 

I don't have a ton of cash right now so figuring how to do it all creatively is definitely in my priority list.

Your biggest challanges:1) Figuring out how to advertise on Zillow2) Handling all the calls3) Scheduling showings - and getting stood up4) Finding a rental application to use - you can use Zillow's or easily Google for one.5) Figuring out how to screen applicants ***** This is IMPORTANT!